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Fly News Breaks for May 26, 2017
MRVL
May 26, 2017 | 09:10 EDT
Stephens analyst Harsh Kumar raised his price target on Marvell shares to $25 from $22 after the company's results and guidance handily beat consensus forecasts. He believes the company is running "significantly ahead" of its expectations for gross margin improvement while aligning into higher growth, higher margin businesses - such as Enterprise and Data Center - to which it has not been historically exposed. Kumar keeps an Overweight rating on Marvell shares.
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